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20110701
20110731
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side's rhetoric squares very well with reality. let's get some perspective now from jon corzine, former democratic governor of new jersey, before that a u.s. senator and ceo of goldman sachs. currently he runs an investment firm mf global holdings limited. also carli fiorina, advisor to republican senatorial committee. also former senior campaign adviser to john mccain and before that ceo of hewlett-packard. let me start with you carly. you heard those sound bites. it seems like ending the corporate jet tax hike would be uncontroversial, but it seems like some of your fellow republicans are drawing a hard line on any revenue-raising proposals whatsoever. do you believe we can make a dent without doing that? >> i think first of all with regard to the rhetoric of millionaires and billionaires, the problem is when you look at the fine print what democrats are really talking about is raising taxes on a family that makes $250,000. and if you're a nurse and a fireman raising two kids, you don't feel very wealthy right now. so i think that's the problem. the rhetoric doesn't match the reality.
there are going to be folks on both sides. the question is, can you get enough votes? and i think jon is absolutely right. it's critically important that we raise the debt ceiling. i think, however, the president of the united states is not a freshman house republican. >> right. >> and as i said, this deal has been on the table for a long time. this problem has been on the table for a long time. i think we need the president of the united states, the leader of the free world, to step forward and lead here. and i think there will be enough bipartisan support to get a deal done. >> has he not been leading on this? i mean, with regards to his most recent conversations? >> you know, disappointingly president obama put forward a budget in february. this was his opportunity to lead, in my opinion that. budget was voted down 97-0. it tackled entitlement reform not a bit. he gave a wonderful speech in april which the congressional budget office said it couldn't score because there weren't enough specifics. the truth is, the president himself has never put a deal on the table. he's asked other
a prayer for today's meeting then you have senator jon kyl, a republican, saying that the white house essentially walked away from $500 billion in cuts that the do sides had already agreed to so no one right now can point to any progress that these talks are achieving. >> pelley: senator mcconnell proposed a stopgap plan today in case they miss the deadline. what was that about? >> well, it's a pretty complicated plan, scott, and it essentially boils down to allowing the president to raise the debt limit in fits and starts over the next year and a half and essentially puts off any talk of spending cuts to a later date. the plan went over with a thud among house republicans who see this as giving in, but mcconnell says that he doesn't want to be a party to default and he certainly doesn't want republicans to be blamed if there is a default, scott. >> pelley: thanks, nancy. this deal to reduce the deficit could be huge. somewhere between $1 and $4 trillion. they're talking about taxes, social security, medicare, defense and most everyone agrees thisv it has to be done by next week to gi
Search Results 0 to 4 of about 5 (some duplicates have been removed)

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